Corn market should consolidate retracted week in Brazil

Published 2023년 3월 10일

Tridge summary

The Brazilian corn market is experiencing stable prices with consumers in most areas not concerned about current stock levels, while producers are cautious about supply and are not lowering their price expectations. Freight rates are increasing, which could impact logistics and the corn market situation. Meanwhile, on the international front, the Chicago Commodity Exchange is seeing mixed quotations, with the dollar's strength against the real potentially influencing export-oriented trading. Corn contracts for May 2023 are down slightly at $6.10 3/4 a bushel, reflecting a consolidation after a slump, influenced by the optimism surrounding the renewal of the grain agreement in the Black Sea region.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Consumers and producers, throughout the week, traded little during the period. On the international scene, the Chicago Commodity Exchange operates with mixed quotations. The dollar has a significant rise against the real, a factor that can move export-oriented trading during the day. The Brazilian corn market remained dragged and with stable prices this Thursday. There was little change in the attitude of the agents. According to SAFRAS Consultoria, consumers are not very concerned about stocks in several states and are not interested in current prices, with the exception of São Paulo, where consultations are more frequent. On the other hand, producers remain retracted in the setting of supply and do not yield in relation to prices this Thursday. Freight rates are on the rise in the country, a point of attention. Soybean harvesting and logistics should move forward over the next few weeks, factors that may stress the corn situation, highlights SAFRAS. In the Port of Santos, the ...

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